Barwa Al-Sadd Signs Purchase Agreement to Buy 75% of Millennium Plaza Hotel at QR 501.6 MM

October 02, 2018

Barwa Real Estate Company announced that its subsidiary, Barwa Al-Sadd Co. (W.L.L.) -fully owned by Barwa Group- has signed a purchase agreement to buy 75% of Millennium Plaza Hotel and the Wellness Center located at Barwa Al-Sadd Development, from Katara Hospitality at QR 501,642,516 (five hundred and one million and six hundred forty-two thousand and five hundred and sixteen Qatari Riyals).

With this transaction, Barwa Al Sadd now fully acquires the Millennium Plaza Hotel and the Wellness Center, where it has previously purchased 25% in June 2018.

The company aims from this purchase transaction to support the operating real estate portfolio of Barwa Real Estate Group in a way that contributes in realizing the sustainable growth and enhances the rights of stakeholders.

Barwa also wishes to note that there is no conflict of interests between the parties related to this transaction.